Dr. Friday explains the income limits for taking early Social Security in 2024 and the penalties for exceeding them.
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Tax questions
Retirement & Social Security
IRAs, 401(k)s, Roth conversions, required distributions, and how Social Security is taxed.
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IRS letters & problems
Deadlines & filing
Deductions & credits
Small business & self-employed
Real estate & rentals
Retirement & Social Security
Family & education
Estate, gifts & inheritance
Investments & capital gains
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159 answers
Dr. Friday highlights retirement savings options for self-employed individuals, including SEP IRAs and their contribution limits.
ListenDr. Friday explains how taxpayers can still maximize their IRA contributions for 2024, covering traditional and Roth IRA options and the impact of employer plans.
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Radio Show
February 22, 2025
Join Dr. Friday, trusted financial counselor and tax consultant, as she dives into this week’s hottest tax topics! From IRS refund delays to capital gains on property sales,…
#Debt Cancellation#Missing W-2 Forms#Retirement Tax Planning#Business Vehicle Deductions
ListenIn this episode, Dr. Friday shares a tax-savvy way for parents to help their working teens save for the future. Learn how contributing to a traditional or Roth…
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Optimize Your Taxes: Adjust Withholdings and Contributions Early
Bookkeeping & payroll
Dr. Friday emphasizes the importance of early adjustments to your W-4, 401(k), or 403(b) to maximize your tax benefits. Starting early in the year allows you to make…
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Radio Show
January 4, 2025
Welcome to the January 5, 2025 episode of The Dr. Friday Radio Show! Dr. Friday, an experienced tax consultant and financial counselor, is here to answer your tax…
#Qualified Charitable Distributions#Cryptocurrency Tax Scams#Estimated Tax Payments#Retirement Tax Planning
ListenDr. Friday emphasizes the power of early savings with a Roth IRA. A 15-year-old earning $2,000 annually and contributing to a Roth IRA could amass over $700,000 by…
ListenDr. Friday highlights the importance of ensuring Required Minimum Distributions (RMDs) are taken on time to avoid a hefty 50% penalty. She explains how to avoid common missteps,…
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Radio Show
December 14, 2024
In this festive episode of the Dr. Friday Radio Show, Dr. Friday combines holiday cheer with practical year-end tax advice. Whether you're gearing up for Christmas celebrations or…
#IRS Notice Resolution#Beneficial Ownership Reporting#Medicare IRMAA Surcharges#IRS Debt Resolution
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Maximize Year-End Tax Savings with Retirement Contributions
Retirement & Social Security
Dr. Friday shares smart strategies to reduce taxes by maximizing contributions to retirement accounts like 401(k)s or IRAs before year-end. She explains the tax benefits of traditional vs.…
ListenDr. Friday discusses the tax implications of early IRA withdrawals, emphasizing the need to account for penalties and tax brackets accurately. If you're under 59 ½, expect a…
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